Beginning inventory, purchases, and sales data for tennis rackets are as follows: April 3 Inventory 19 units @ $13 11 Purchase 15 units @ $18 14 Sale 24 units 21 Purchase 9 units @ $16 25 Sale 13 units Complete the inventory cost card assuming the business maintains a perpetual inventory system and determine the cost of goods sold and ending inventory using FIFO. Cost of Purchases Inventory Goods Sold Date Qty. Unit Cost Total Cost Qty. Unit Cost Total Cost Qty. Unit Cost Total Cost April 3 11 $4 14 21 Accounting numeric field 25
Beginning inventory, purchases, and sales data for tennis rackets are as follows: April 3 Inventory 19 units @ $13 11 Purchase 15 units @ $18 14 Sale 24 units 21 Purchase 9 units @ $16 25 Sale 13 units Complete the inventory cost card assuming the business maintains a perpetual inventory system and determine the cost of goods sold and ending inventory using FIFO. Cost of Purchases Inventory Goods Sold Date Qty. Unit Cost Total Cost Qty. Unit Cost Total Cost Qty. Unit Cost Total Cost April 3 11 $4 14 21 Accounting numeric field 25
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter7: Inventories
Section: Chapter Questions
Problem 3PEA: Beginning inventory, purchases, and sales for Item Gidget are as follows: Assuming a perpetual...
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